Craig Kelly (Hughes, Liberal Party) Share this | Hansard source

In the small time left to me, I would like to conclude that this bill remedies a terrible Gillard government bill passed back in 2009. The bill was an oversight that has seen tens of millions, if not hundreds of millions, of dollars of goods lawfully owned by small business being transferred to the financiers, the big banks and the insolvency companies. It was a terrible piece of legislation. It was an oversight. I acknowledge that the coalition did the wrong thing in opposition in supporting it. We should have picked this up in opposition back in 2009. We also need to act on the Romalpa clause. That is another area that we need to fix up. It has been done, and allows property from small businesses to be transferred to the large end of town. I hope that the member from Moreton in his contribution acknowledges the great mistakes that were made and the tens of millions of dollars that have been lost by the small business community because of this poor piece of Gillard government legislation.

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